Sports Illustrated - Nearly $5 billion to be bet on Super Bowl LI

An estimated $4.7 billion will be bet by Americans on Super Bowl LI this Sunday, according to a report from the American Gaming Association.

That figure is an 11% rise over the action from last year's Super Bowl between the Denver Broncos and Carolina Panthers.

Nevada is the only state that allows for sports betting, after the Professional and Amateur Sports Protection Act took effect Jan. 1, 1993.

“As we mark the 25th anniversary of a failed law, it’s time for Washington to get out of the way and lift the federal prohibition that pushes sports fans to a rapidly growing illegal betting market,” said Geoff Freeman, president and CEO of the AGA. “A regulated marketplace would generate tax revenue and jobs, protect consumers and leverage cutting-edge technology to strengthen the integrity of the games we all love.”

American Gaming Association says that $132 million will be wagered legally through sports books by Sunday's kickoff.